HBO Max Alters ‘Generation Hustle’ Blurbs On Ex-WeWorks CEO Adam Neumann – Deadline

Unique: With a revamped WeWork poised to strike Wall Avenue with a multi-billion greenback IPO in just around a week, the former CEO of the at the time remarkably hyped startups workspace enterprise has now made a killing of at HBO Max.

Booted from his best gig in September 2019 with a $1.7 billion parachute just just before the corporation pulled its very first planned IPO, WeWork co-founder Adam Neumann has gained a poignant re-evaluation of types from the WarnerMedia-owned streamer’s Generation Hustle.

Still having the tagline of “Is WeWork founder Adam Neumann a fantastic salesman or a fake prophet who convinced an full generation to observe him to the promised land?” the 46-minute second episode of the April 22 launching docuseries EP’d by Angie Day and Yon Motskin has manufactured some pivotal variations immediately after finding an instructive correspondence or two from the properly-documented ex-exec’s attorneys earlier this 12 months, if you know what I necessarily mean?

Whereas the damning WeWork episode as soon as ended with a slate card that read:

Federal and condition investigators are looking into Adam’s business dealings.
Adam returned $5.9 million for the “We” trademark.
But he may perhaps nevertheless stroll absent with $1 billion.

It now says:

Federal and state investigators are looking into Adam’s business enterprise dealings. No criminal or regulatory charges have been filed
Adam returned $5.9 million for the “We” trademark.
But he might even now stroll away with $1 billion.

Also, the subsequent card used to say:

Currently WeWork is well worth a fraction of its peak value.
Adam, Rebekah, Miguel and their interior circle are gone.
So are all their aspect initiatives
They declined to speak to us.

As of late previous 7 days, it now suggests this:

In March 2021, WeWork declared ideas to go community all over again at a proposed valuation of $9 billion.
Adam, Rebekah, Miguel and their interior circle are long gone.
So are all their side tasks
They declined to talk to us.

Whole of notions that the enterprise was a cult, accusations of manipulation, Congressional hearings, armchair psychiatry and the reality of over 3,000 staffers currently being laid off in the slide of 2019, the packed WeWork episode is the only a person in the 10-episode sequence exactly where the matter matter has not been billed or accuse of breaking an real law or, in several scenarios, served time.

A actuality that gains traction in the description of Technology Hustle on the HBO Max internet site applied to say:

How significantly would you go for electrical power, fame and fortune? Era Hustle options outrageous and significant-stakes new stories about fantastic and brazen young men and women, some of whom go way too far by pulling off the most wildly ingenious scams of our time.

Combining real-criminal offense capers with fresh new, shiny stories of charismatic fakes, colourful imposters, and unabashed ambition, this shocking and in some cases comic docuseries explores the no-retains-barred quest for riches and status in the age of social media.

Technology Hustle now has a distinctly unique definition:

How considerably would you go for power, fame and fortune? Generation Hustle characteristics outrageous and substantial-stakes new tales about fantastic and brazen young people today, some of whom go far too significantly by pulling off the most wildly creative frauds of our time.

Showcasing ripped-from-the-headlines stories of unabashed ambition, this stunning and often comedian docuseries explores the noholds- barred quest for riches and standing in the age of social media.

“HBO did the right issue below by instantly retracting these false implications about Adam and the historical past of WeWork, and we applaud the community for getting these dependable steps,” Thomas A. Clare, the defamation attorney for Neumann, advised Deadline nowadays.  “The media has regularly gotten the tale of WeWork incorrect, and we hope these liable techniques by a reputable outlet will support set an conclusion to the mischaracterizations of Adam’s successful role in building a transformational company.”

Claire indicated that other stores these types of as Forbes and Bloomberg would be revising characterizations of Neumann in items of theirs too.

HBO had no comment on the alterations when contacted by Deadline on Monday.

On the other hand, it must be noted that none of the filmed information of the WeWork episode of Era Hustle was altered due to the fact the docuseries hit the streamer in the spring. Additionally, in what seems to be to be a very first for HBO/HBO Max, it should really be pointed out, none of the other 9 episodes of Technology Hustle saw their slate cards altered as the WeWork 1 was.

And the timing is kind of great for WeWorks, even if not so substantially for HBO/HBO Max

Two years right after imploding and scrapping its preceding system to go community, WeWork plans to have its IPO on October 21 by using a merger with a particular-goal acquisition business. The present-day valuation is pegged at $9 billion — not even one-fifth the astronomical $47 billion on paper in 2019.

With Neaumann nevertheless a existence on the WeWork board, the idea of a comeback by a organization with a worse rep than the Fyre Competition the moment seemed inconceivable. But then came the coronavirus pandemic in early 2020. Months of lockdowns upended the business world’s calculations about true estate, and the prevalent embrace of Zoom and a retreat from in-man or woman requirements enabled WeWork to pitch by itself as a resolution to corporations trying to get flexibility. There have been a good deal of takers.

At an investor presentation past week, the enterprise reported it hit a yr-to-date superior with profits of $228 million in September, the fifth straight time period of thirty day period-to-month growth. Complete occupancy hit 60{77cee397d25497406907bc5f78f1cff64d8c0594b11a1d7f77fe1a342e6e8ad4} at the close of September, up from 52{77cee397d25497406907bc5f78f1cff64d8c0594b11a1d7f77fe1a342e6e8ad4} at the conclusion of June. Such as tenants underneath agreement to go in, occupancy is at 64{77cee397d25497406907bc5f78f1cff64d8c0594b11a1d7f77fe1a342e6e8ad4}.

Today’s administration team and slate of fiscal backers seems to be a great deal distinct than the model of the business Neumann ran. The recent WeWork CEO, Sandeep Mathrani, is an Indian-American veteran of the genuine estate sector, who formerly ran Brookfield Properties’ retail business and held senior roles at big genuine estate companies Vornado and Forest Metropolis Ratner.

SoftBank had been the major shareholder in WeWork, but is even now feuding with Neumann more than its stake. The current iteration of the enterprise contains $483 million from Vivek Ranadivé, the Indian software tycoon who owns the NBA’s Sacramento Kings. Insight Companions has kicked in a different $800 million and other backers include Starwood Capital, Fidelity Administration, Centaurus Capital and BlackRock.

At the trader presentation, none of Mathrani’s actions proposed a new round of forthcoming publications or videos centered on WeWork. Rather, the mission is to merely money in on a soaring possibility in professional authentic estate. “In the pre-pandemic planet, flex was part of an office presenting,” Mathrani explained to buyers. “In a post-pandemic world, flex is its individual channel of distribution.”





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